Well known contrarian economist Dr. Doom Marc Faber weighs in on the state of the global economy and current events.
Despite being ignored by his many colleagues in economic circles for his dire warnings ahead of the crash of 2008, Faber has been on the mark about how stock markets would behave, what governments would do, and the subsequent effects on the global populace.
To say that he expects a crash would be an understatement.
According to Faber, what’s coming down the pike will be much, much worse than any crash we’ve seen in our lifetimes, which is why he’s previously recommended high voltage electric perimeter fencing and attack dogs as investments, along with farms outside of high population areas and machine guns to defend them.
In general, if you look at the world, say compared to the 1950’s, the 1960’s and even the 70’s, it’s very clear that financial markets have grown disproportionately compared to the real economy. In other words, you have a global GDP of $60 Trillion and you have financial markets that turn $60 trillion around in a week or less.
I believe that one day this financial bubble will have to adjust to the down side.
Either it will have to adjust to the downside because we have an inflationary burst, or we have a collapse of the system.
We don’t know exactly how the end game will be played.
It’s going to end one day. And when it ends, either through war or through a financial collapse, it will be very painful.
According to the good doctor, as we’ve seen throughout history, when governments begin to lose the confidence of their people through economic collapse they often turn to war. And this time will be no different, as Faber has previously forecast that World War III will occur in the next five years.
It’s coming, and those who have not developed long term preparedness plans, stored nutritious foods, invested in gold and silver, and stockpiled barterable supplies will experience the worst of what humanity has to offer.
The collapse of the global financial and economic bubble, which has been built on conjecture and lies over the last several decades, is inevitable.